China Economic Roundtable
Kellogg Global Hub 5101
Welcome to the China Economic Roundtable, which aims to better understand the growth and sustainability of the Chinese economy by bringing together different perspectives from academics, business journalists, policy makers and business; and to help the public conversation about the Chinese economy to be more representative and fact based. To facilitate open discussion, the conference will be closed door, Chatham House Rules. Only invited and registered guests can attend.
Organizers
Nancy Qian (James J. O’Connor Professor of Managerial Economics and Decision Sciences, Kellogg School of Management, Northwestern University)
Ruixue Jia (Professor of Economics, School of Global Policy and Strategy, University of California San Diego)
Daniel Xu (David Rubenstein Distinguished Professor of Economics, Duke University)
David Yang (Yvonne P.L. Lui Professor in the Department of Economics, Harvard University)
Shaoda Wang (Assistant Professor, Harris School of Public Policy, University of Chicago)
Agenda
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Time
Session
5:00pm - 8:00pm
Conference Dinner
5:00pm Reception
5:30pm Welcome remarks by Nancy Qian
5:45pm Reflections on U.S.-China Engagement by Henry Bienen, Northwestern University
6:00pm Introduction of the Keynote Speaker by Francesca Cornelli, Kellogg School of Management - Northwestern University
6:10pm Dinner Keynote: Chong-en Bai, School of Economics and Management, Tsinghua University
8:00pm End
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Time
Session
8:30am
Breakfast 9:20am
Opening remarks 9:30am - 10:30am
Panel 1: Real Estate and the Financial Markets
Chair: Barry Naughton, University of California San Diego
Panelists:
Chong-en Bai, School of Economics and Management, Tsinghua University
Wei Xiong, The Chinese University of Hong Kong, Shenzhen
Zoe Liu, Council on Foreign Relations
This panel asks how China’s property sector downturn and weak demand are interacting with bank balance-sheet conditions and local government debt. To what extent might asset quality concerns and debt rollover practices be constraining banks’ ability to expand credit despite policy support? What are the broader implications of these interactions for investment, growth, and financial stability?10:30am - 11:00am
Break 11:00am - 12:00pm
Panel 2: Trade, Tariffs and U.S.-China Relations
Chair: Bob Davis, former Senior Editor, Wall Street Journal
Panelists:
Emily Blanchard, Dartmouth University
Michael Song, Chinese University of Hong Kong
Brent Neiman, University of Chicago
This roundtable brings together leading experts to discuss tariffs, trade, and U.S.–China relations. The panel will examine the goals and effectiveness of Trump-era tariffs, China’s responses and lessons from the first trade war, and the current relevance of yuan undervaluation and U.S. currency policy.12:00pm - 1:30pm
Lunch 1:30pm - 2:30pm
Panel 3: Science and Technology
Chair: Lingling Wei, The Wall Street Journal
Panelists:
Ernest Liu, Princeton University
Dashun Wang, Northwestern University
Richard Zhang, Apax Partners
China’s rapid advances in science and technology—from green energy and digital infrastructure to frontier research—have become a central engine of productivity, resilience, and long-term economic growth. At the same time, these advances raise important concerns about uneven regional development, resource misallocation, regulatory and geopolitical frictions, and the risk that innovation-led growth may exacerbate inequality or environmental and financial vulnerabilities if not carefully governed.2:30pm - 3:00pm
Break 3:00pm - 4:00pm
Panel 4: Education and the Labor Market
Chair: Vincent Ni, National Public Radio
Panelists:
Hanming Fang, University of Pennsylvania
Yang Yao, Shanghai University of Finance and Economics
Ruixue Jia, University of California San Diego
China’s education system has produced a large, increasingly skilled workforce that has supported decades of rapid growth, even as declining fertility and population aging pose new challenges to labor supply and productivity. At the same time, rigidities in the education-to-employment pipeline and rising youth unemployment highlight growing mismatches between skills, aspirations, and labor market demand, raising critical questions about the sustainability of China’s growth model.
4:00pm
Concluding Remarks Informal Dinner